Peloton introduces a treadmill in their product line.
Emily Coffney | CNBC
Peloton It said Thursday it will delay the launch of its treadmill machine in the United States until new security features are added.
The new, lower priced treadmill went on sale on May 27th. It is already available in Canada and the UK
CEO John Foley said during a revenue call that Peloton will work with the U.S. Consumer Product Safety Authority to get its treadmills back on the market.
Foley said CBSC must recognize new improvements to its treadmills that will make the devices safer before it is resold. He said he expects Tread to go on sale again “much sooner” than Tread +.
“The process usually takes six to eight weeks. This can take a long time. So we can not offer a sale or revised release date at this time,” Foley explained.
Wednesday, Peloton Spontaneously recalled all its treadmills On security concerns. It apologized for not acting quickly to resolve the issue after reports of one death and dozens of injuries.
Peloton’s Tread + engine has an unusual belt design that uses unique hard rubberized slates or treads that are locked to each other and ride on the train. Many treadmills on the market have a thin, continuous belt. There is a large gap between the floor and the belt of Tread +, which can cause a risk of leaving a spot below.
In April, the CBSE released a graphic video showing a boy being dragged under one of the Tread + machines and struggling to free himself. It was filmed on a home security camera.
With Tread, some users have announced that their screens are falling off.
Peloton first reminded customers that they should use its machines when children and pets are not present and lock the machines when they are not in use. The company has since apologized for not acting quickly.
The recall affects about 125,000 Tread + machines and about 1,050 treadmill products in the United States
Shares of Peloton were up more than 4% after the hourly trading.